BofA says Date Closed is never reported

[Anonymous]

huh?

Background - had a CO from BofA from early 2005. Hard copy CR from TU in Dec 09 shows Date Closed accurately as 7/2005. Disputed some things on my CR in Jan 10, received results and hard copy CR from TU in Feb 10 shows same account as having an updated Date Closed of 2/2010.

Obviously an error in reporting.

Result: TU Fico dropped almost 100 pts, Estimated Date of Removal for this account is now 2017, was previously 2012.

Called BofA, the rep said BofA never reports the Date Closed of an account. She said she has no idea how or why TU would report that information. She also said that I was "reading the credit report incorrectly, there is no such thing as a Date Closed for an account on a credit report."

Are you kidding me?

After 30 minutes of discussing this with her, she suddenly changed her tune and said she would have it taken care of. She said she'd spent too much time on the phone with me. I suspect she just didn't want to deal with me anymore. Of course I was cordial and professional the whole time.

So I suspect that if they don't take care of this in a few days I'll just have to dispute with the CRA's.

I asked her how the CRA's would know when to remove an account per the 7 year rule if no date closed or DOFD is ever reported by the OC? She said the CRA's must get that information from somewhere - she couldn't know how they run their business. I'd have to ask them directly.

It's magic, I guess.

For someone who professed to be doing this CR stuff for years, she really had no clue at all. And she had an ego to boot. Stunning.

[llecs]

Was this ever a CO? Is there a balance reporting?

[Anonymous]

yeah was a CO - I think I mentioned that

Was PIF 2007

No balance reporting

This has been a stagnant TL since 2007 when it was last updated.

[Anonymous]

Did you dispute the account for any reason or it was just updated after other account disputes?

[Anonymous]

yes, I did.

[Anonymous]

You did dispute it, why?

[Anonymous]

because there was incorrect information in the TL

[Anonymous]

---

lucent wrote:

Result: TU Fico dropped almost 100 pts, Estimated Date of Removal for this account is now 2017, was previously 2012.

---

Just to make sure that I'm understanding correctly, a few questions:

1) Your updated TU credit report (hard copy provided by Transunion) has a new/updated Estimated Date of Removal as mm/2017, when it was previously, mm/2012?

2) This is a paid charge-off, but did YOU pay it, or was it sold to a collection agency, rendering the OC balance zero?

3) If you paid this charge-off, when did you pay it? What month, and what year? And, whom did you pay (OC, or a CA)?

4) What was the basis for your dispute, exactly? What was reporting incorrectly?

Message Edited by LilMirth on 02-19-2010 03:13 PM

[Anonymous]

1) Correct

2) I paid it in full, the TL was never sold to a CA

3) 1/2007 and BofA

4) TL did not show it was paid

I was under the impression that the Date Closed on a closed account can never change, regardless of any subsequent activity on the TL. Am I wrong about this?

Thanks!

[BungalowMo]

What was the DOFD on this acct???

Did you keep any of your old bill stubs & payment info???

Message Edited by BungalowMo on 02-19-2010 03:32 PM